Chris Dischinger Of LDG Development Secures $152.3M Loan For Aries Lofts Development In Whitehall Ohio

Aries Lofts is a development site located in Whitehall, OH. The project encompasses the construction of two four-story buildings that will provide a total of 315 affordable housing units designed for families with incomes ranging from 50% to 70% of Area Median Income. The project includes one- to three-bedroom units and amenities such as a pool, fitness center, playground, and on-site resident services. The total loan amount secured for this project is $152,300,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $152,300,000
• Lender: Merchants Capital & Freddie Mac
• Landlord: Chris Dischinger - LDG Development
• Opening Year: 2027

LDG Development has obtained financing through a combination of Freddie Mac loans, tax-exempt construction loans, equity bridge loans, and Low-Income Housing Tax Credit (LIHTC) equity financing. The financing structure and the involvement of Merchants Capital play a crucial role in the development of this affordable housing project aimed at serving the local community.